Published on 4/18/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.37 million phoenix autocallable notes on four stocks
Chicago, April 19 – Barclays Bank plc priced $3.37 million of phoenix autocallable notes due March 19, 2026 linked to the least performing of the common stocks of Amazon.com, Inc., Apple Inc., Netflix, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.25% if each stock closes at or above its 50% coupon barrier on a related observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any stock finishes below 50% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stocks: | Amazon.com, Inc., Apple Inc., Netflix, Inc. and Walt Disney Co.
|
| Amount: | $3,365,000
|
| Maturity: | March 19, 2026
|
| Coupon: | 10.25% annualized, payable quarterly if each stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing stock
|
| Call: | At par if each stock closes at or above initial level on any quarterly call observation date after one year
|
| Initial level: | $3,091.86 for Amazon, $125.57 for Apple, $524.03 for Netflix and $194.24 for Disney
|
| Coupon barriers: | $1,545.93 for Amazon, $62.79 for Apple, $262.02 for Netflix and $97.12 for Disney; 50% of initial levels
|
| Final barriers: | $1,545.93 for Amazon, $62.79 for Apple, $262.02 for Netflix and $97.12 for Disney; 50% of initial levels
|
| Pricing date: | March 16
|
| Settlement date: | March 18
|
| Agent: | Barclays
|
| Fees: | 3.35%
|
| Cusip: | 06748EET6
|
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